This is typical Wall Street - now the entire group of institutions are ganging up on this stock saying its fair valuation is 33, but the S&P without QE fair valuation is 1000, the point is watch the option market today, because in the short term, there are a lot of option call buyers at the Jan(2) weekly 68 strike, and even more on the Jan 80 (regular expiration). I have no doubt that this stock will be volatile.....but I am not convinced it is going to 33, I think more like 58, and then buyers will step back in and drive it back to 75 to 80 before earnings. Just my view from the side now.
Institutions control this stock - this was an attempt to wash out weak hands - make those short more and more, and then get burned very badly as we head into Jan/Feb expiraiton.
Not that it can not go higher, but I see a consolidation around the mid 80's before I would jump back in. I would not be surprised for this to flatten out.
for the most part - predicting either 6% move either way - so either 66 or 54 by Friday.
it was not the stock - it was how it was played.
still think it will go back to 50 or 45 before earnings.
3 day rule. So today is the last day that you can book for profits for 2013. You can buy it back on 2013 to say it was on your books - but people will take profits today.
I despise this market. When you lose 250k, even making back 75K seems like a gift ...sadly. Oh well. Let's see if it gets back down to 46 ... not today. On reflection, it would appear that today is the last day to sell your positions down, and take profits and book them for this year, that said, it does not mean, selling will not continue until the 31st.
I am fxxked.